2018-08-29 14:28 MT - News Release
Ms. Lucy Yan reports
AXMIN ANNOUNCES FINANCIAL RESULTS FOR THE THREE MONTHS ENDING JUNE 30, 2018
Axmin Inc. has released its financial and operating results for the three months ended June 30, 2018. All amounts included in this news release are in U.S. dollars
Highlights:
During the three months ended June 30, 2018, the Company reported royalty income of $576,643 from Gora Projects, compared with $386,655 for the same time period of 2017.
The net income for the three months ended June 30, 2018 was $437,586 compared to $359,338 in the same period of 2017.
LIQUIDITY AND CAPITAL RESOURCES
At June 30, 2018 the Company had cash on deposit in the amount of $1,944,449, accounts and other receivables of $577,237, and prepaid expenses of $5,487. Royalty income receivable of $573,643 has been received subsequent to the period ended June 30, 2018.
Net assets inclined to negative $362,169 at June 30, 2018 compared to negative $1,215,536 at December 31, 2017.
OUTLOOK
We continue our efforts and commitment with our developments in the CAR. We look forward to the time when we can reclaim our operations in CAR again.
About Axmin
Axmin is a Canadian exploration and development company with a strong focus on the African continent. Axmin continues to closely monitor the political situation at its Feasibility Stage Passendro Gold Project in the Central African Republic. For more information regarding Axmin visit our website at www.axmininc.com.
Axmin is a Canadian exploration and development company with a strong focus on the African continent. Axmin continues to closely monitor the political situation at its Feasibility Stage Passendro Gold Project in the Central African Republic. For more information regarding Axmin visit our website at www.axmininc.com.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.
NOTE:
The results above are from Q2 2018 which was April to June 2018. Below is a recap of the last six quarters and all news/financials can be found at www.sedar.com to verify these numbers:
January to December 2017 - Axmin Inc. Earns $1.2 million USD
January To March 2018 - Axmin Inc. Earns $386,115 In Q1 2018
April To June 2018 - Axmin Inc. Earns $415,900 In Q2 2018
